Stock Monitor: Sypris Solutions Post Earnings Reporting
LONDON, UK / ACCESSWIRE / November 29, 2017 / Active-Investors free earnings report on LKQ Corp. (NASDAQ: LKQ) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=LKQ. LKQ reported its third quarter fiscal 2017 operating results on October 26, 2017. The vehicle components Company exceeded top- and bottom-line expectations and also updated its guidance. Register today and get free access to our complimentary member's area where many more reports are available:
Active-Investors.com is currently working on the research report for Sypris Solutions, Inc. (NASDAQ: SYPR), which also belongs to the Consumer Goods sector as the Company LKQ Corp. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, LKQ Corp. most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
Earnings Highlights and Summary
LKQ reported revenue of $2.47 billion for Q3 2017, reflecting an increase of 11.7% compared to revenue of $2.21 billion in Q3 2016. The Company's revenue exceeded analysts' expectations of $2.37 billion.
LKQ's income from continuing operations was $122 million for Q3 2017, an increase of 11.4% compared to $110 million for Q3 2016. On an adjusted basis, the Company's income from continuing operations was $140 million, representing growth of 11.1% compared to the $126 million reported in Q3 2016.
LKQ's diluted earnings per share from continuing operations was $0.39 for Q3 2017, up 11.4% compared to the $0.35 reported for the same period of 2016. On an adjusted basis, the Company's diluted earnings per share from continuing operations was $0.45 in the reported quarter compared to the $0.41 for the year earlier same quarter. LKQ's earnings beat Wall Street's estimates of $0.42 per share.
LKQ's Segment Results
During Q3 2017, LKQ's total revenue growth from parts and services was 11.4%. Importantly, the Company's organic growth in parts and services was 3.2% on a reported basis. After taking into account the impact of 1 fewer selling day in 2017 compared to 2016, LKQ's global organic growth was 4.7% on a per day basis.
For Q3 2017, the North American segment generated organic revenue growth for parts and services of 2.5% on a reported basis and 4.0% on a per day basis, while increasing segment EBITDA margin by 40 basis points compared to the year ago same period.
The European segment achieved total revenue growth of 23.8%. The Company's organic revenue for parts and services witnessed growth of 4.4% on a reported basis and 5.6% on a per day basis as the Company had 1 selling day in the reported quarter. Additionally, the Company's Specialty segment realized organic revenue growth of 2.7% on a reported basis and 4.4% on a per day basis.
Balance Sheet and Liquidity
LKQ's cash flow from operations totaled $449 million for the nine-month of 2017, of which approximately $132 million was invested in capital expenditures and other long-term assets for continuing operations and $253 million was utilized for acquisitions. As of September 30, 2017, LKQ's balance sheet reflected cash and equivalents of $275 million and outstanding debt of $3.1 billion. Total availability under the Company's credit facility at September 30, 2017, was approximately $1.3 billion.
LKQ updated it organic growth of parts and services in the range of 4.0% to 4.5%. The Company also narrowed the range for its adjusted diluted earnings per share to $1.86 on the low-end and $1.92 at the high-end, increasing the midpoint to $1.89 per share. LKQ's cash flow from operations has been revised to a range of $600 million to $625 million and capital spending has been revised down to a range of $175 million to $200 million.
Stock Performance Snapshot
November 28, 2017 - At Tuesday's closing bell, LKQ Corp.'s stock rose 1.41%, ending the trading session at $38.92.
Volume traded for the day: 981.69 thousand shares.
Stock performance in the last month – up 5.93%; previous three-month period – up 14.74%; past twelve-month period – up 16.98%; and year-to-date – up 26.98%
After yesterday's close, LKQ Corp.'s market cap was at $12.06 billion.
Price to Earnings (P/E) ratio was at 24.52.
The stock is part of the Consumer Goods sector, categorized under the Auto Parts industry. This sector was up 0.5% at the end of the session.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visithttp://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.